Complete Story

05/30/2012

National Association of Manufacturers' Ex-Im Reauthorization Campaign Pays Off

Senate passes Export-Import bill

NAM’S Ex-Im Reauthorization Campaign Pays Off. With the NAM leading the way, manufacturers scored a significant victory on Tuesday, May 15, when the Senate passed the Export-Import (Ex-Im) Bank Reauthorization Act of 2012 (H.R. 2072) by an overwhelming bipartisan vote. The NAM sent two key vote letters to the Senate voicing support for H.R. 2072 and opposition to five amendments to H.R. 2072 that would have weakened the Bank or created hurdles for U.S. exporters. The bill is expected to be signed by the President before Memorial Day, and U.S. exporters will greatly benefit from the reauthorization when it becomes law. The House passed H.R. 2072 on May 9.

“It’s a good day for manufacturers after weeks of uncertainty regarding the future of Ex-Im Bank,” said NAM President and CEO Jay Timmons in a statement. “Today the Senate stood up for jobs by taking quick action on legislation reauthorizing the Bank and increasing its lending authority.” Through an aggressive legislative, communications and advocacy campaign, the NAM played a significant role in securing the Bank’s reauthorization. The NAM organized hundreds of meetings with lawmakers and spearheaded an ad blitz to promote the Bank’s contributions to small business and job creation.

The NAM created a website dedicated to Ex-Im, with a link for manufacturers to write to members of Congress, testimonials from manufacturers on the importance of reauthorization, and press articles on Ex-Im. Last year, the Bank supported more than $41 billion to exports from more than 3,600 companies with more than 85 percent of the transactions benefitting U.S. small businesses. Those exports, in turn, supported nearly 290,000 American jobs. For more information on Ex-Im Bank, click here.